Binance Launches Tax Reporting Tool | Crypto Briefing

Key Takeaways

Binance has launched a new tax reporting tool on its trading platform.
The tool let users transfer their transaction history to third-party crypto taxation services.
The launch is one of many steps Binance has taken to comply with regulators in recent weeks.

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IRS to transition from ‘education to enforcement,’ says former division chief

A former top investigator is warning that “a high-stakes game of chicken” between the Internal Revenue Service (IRS) and cryptocurrency holders who fail to properly report their earnings will be entering a new phase in 2021 as the tax collection agency begins to focus on pursuing “civil and, potenti

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India ponders Bitcoin tax law to target $5B market

India’s finance ministry has called for the enactment of Bitcoin (BTC) tax laws in the country. According to the Times of India, the ministry’s Central Economic Intelligence Bureau, or CEIB, recently submitted a draft document that proposes levying an 18% goods and services tax on Bitcoin trading.

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